Independent Financial Centre for the Americas

mmilone

New member
Mar 25, 2003
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Does anyone have any new information on this complex that is located midway between Santo Domingo and Casa de Campo? Please Google it or go to their website. It is truly a mega project.
 

pgolivares

Member
Apr 9, 2010
229
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Does anyone have any new information on this complex that is located midway between Santo Domingo and Casa de Campo? Please Google it or go to their website. It is truly a mega project.

Interesting... The Independent Financial Centre of the Americas (IFCA) is the world's first privately operated and independently regulated international financial centre. This has tremendous potentials for the DR, Latin American and beyond as Mr Gaetan Bucher puts it. advice - send your kids to college and make sure they graduate in finance, economics, information technology, finance regulation or any other degree or technical skills that would support this project/villa. some of the tech skills that come to mind are - heating and air conditioning, waste management, water management, electrical/mechanical/civil eng., etc. Interesting times ahead for the DR. if only the gov would get their act straight (stop the corruption, the "botellas", etc), start enforcing current laws... I could go on but as most, if not all you know, DR has a lot of growing to do.

take a listen to this interview with Mr Bucher, founder and head of IFCA. it lays out the vision and 25 year plan of the project and center.

Independent Financial Centre of the Americas
 

NALs

Economist by Profession
Jan 20, 2003
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Construction will begin this year if a few permit issues are resolved. We'll see.
 
Jan 9, 2004
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GinzaGringo

Member
Sep 29, 2010
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Have you all heard about the looming housing bust in China? The Chinese have built thousands of apartments but there is no demand in China for the apartments. Why? Because the apartments were "centrally planned" by the Chinese government, i.e., there was a disconnect between supply and demand.

This IFC of the Americas looks similar to me. Where is the demand for this? If there was such a huge demand for financial services located in the DR, couldn't that demand be met by the existing office building stock in SD? The financial services industry by its very nature pinches pennies. Having a tropical location (i.e. nice work environment) is typically a secondary priority compared with the bottom line.

I just don't see the demand for this.
 

cobraboy

Pro-Bono Demolition Hobbyist
Jul 24, 2004
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Have you all heard about the looming housing bust in China? The Chinese have built thousands of apartments but there is no demand in China for the apartments. Why? Because the apartments were "centrally planned" by the Chinese government, i.e., there was a disconnect between supply and demand.

This IFC of the Americas looks similar to me. Where is the demand for this? If there was such a huge demand for financial services located in the DR, couldn't that demand be met by the existing office building stock in SD? The financial services industry by its very nature pinches pennies. Having a tropical location (i.e. nice work environment) is typically a secondary priority compared with the bottom line.

I just don't see the demand for this.
If they opened a stock market in the DR, I might become an investment banker here.

Bwahahahahaha!!!!!
 

pauleast

*** I love DR1 ***
Jan 29, 2012
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That's a hoot......The New York stock exchange and the Chicago board of trade are no doubt "seriously" concerned about this new financial institution taking over the world market. Making a stock trade in the new Dominican market would be as safe and secure as leaving your wallet with a boca chica ho ho.
 

NALs

Economist by Profession
Jan 20, 2003
13,368
3,150
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This IFC of the Americas looks similar to me. Where is the demand for this? If there was such a huge demand for financial services located in the DR, couldn't that demand be met by the existing office building stock in SD? The financial services industry by its very nature pinches pennies. Having a tropical location (i.e. nice work environment) is typically a secondary priority compared with the bottom line.
The IFCA is going to be a financial free zone of sorts, similar to the manufacturing free zones that have been set up all over the country. They function on a different set of rules, mostly tax related. The current financial laws in the country are not adequate to create an offshore banking center. If they were adequate for such operations, then Santo Domingo would had taken the role that places like the Cayman Islands have right now, which is one of the largest offshore banking places in the world.

The DR is one of the largest free trade zone sectors among manufacturing and call centers companies in the region, the same will happen in the financial services sector.

As for not seeing the demand, this is normal. Most people notice the demand for any undeveloped sector years after it has been developed, which is kind of late. The best time to enter is precisely when most people don't see it.

Anyway, the only thing that has kept this from starting has been certain permits with the local authorities.
 
Aug 19, 2004
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Anyway, the only thing that has kept this from starting has been certain permits with the local authorities.

I get the impression there is slighly more to it than this. All that they have constructed so far is a web site.
 

zoomzx11

Gold
Jan 21, 2006
8,367
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More Dominican b..... sh...... Another zona franca. Why dont they just re-open the ones they have closed due to no business?
 
Jan 9, 2004
10,897
2,224
113
The IFCA is going to be a financial free zone of sorts, similar to the manufacturing free zones that have been set up all over the country. They function on a different set of rules, mostly tax related. The current financial laws in the country are not adequate to create an offshore banking center. If they were adequate for such operations, then Santo Domingo would had taken the role that places like the Cayman Islands have right now, which is one of the largest offshore banking places in the world.

The DR is one of the largest free trade zone sectors among manufacturing and call centers companies in the region, the same will happen in the financial services sector.

As for not seeing the demand, this is normal. Most people notice the demand for any undeveloped sector years after it has been developed, which is kind of late. The best time to enter is precisely when most people don't see it.

Anyway, the only thing that has kept this from starting has been certain permits with the local authorities

Permits? 7 years to secure permits. Why don't you tell us he had a bad car accident and this has delayed the project...that might be more believable....but then again.

It is my understanding that the IFCA is nothing but a guy with an idea. He can not/will not build the building because he has not, to this point, found tenants to occupy it.


Respectfully,
Playacaribe2
 

cobraboy

Pro-Bono Demolition Hobbyist
Jul 24, 2004
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Permits? 7 years to secure permits. Why don't you tell us he had a bad car accident and this has delayed the project...that might be more believable....but then again.

It is my understanding that the IFCA is nothing but a guy with an idea. He can not/will not build the building because he has not, to this point, found tenants to occupy it.


Respectfully,
Playacaribe2
Or, equally likely, financing...
 

mmilone

New member
Mar 25, 2003
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Doesn't make sense. I've been following it (what little there is), for years. I think the investors are from Sweden or something; I need to check the website or Wikipedia again. They compare it to the operation in Dubai. Surely people from the Capital must have some idea.